Restriction rules for the data usage:
The interbank rates from SMBS (Seoul Money Brokerage Company) and KMBC (Korea Money Brokerage Company) is a restricted set of data and any misuse of the data is subject to penalty.
For any clients using DACS Permissioning system, PDP code ‘WWPRPKFTRDS’ must be only granted to direct market participants in South Korea – i.e. banks, interbank dealers. Users outside Korea or customer market participants- i.e. corporate, offshore must not access the interbank rates
According to 'Improvement of pricing and quoting system and strategies for advancement of Seoul Foreign Exchange Market' issued in 2005, the following applies:
- Only direct participants in the Korean inter-bank market (Banks, inter-bank dealer) will be granted an access authority for the real-time information about the market.
- Exchange rates (Quoted rate by each banks or random rate notified rate by market information services providers) that participants of inter-bank market provide will be provided to the participants of customer market (Like cooperate, offshore, etc.) via information vendor.